HEADLINES

Tompkins Mahopac Bank PP Funding Portal now available

Earlier today, Tuesday, January 19th Tompkins Mahopac Bank’s Online Application Portal for PPP funding became available beginning at 8:00 a.m. In an effort to provide you with the best possible experience, we have included information below to help prepare you and your business.

What You Can Do To Prepare

Beginning today, Tuesday, January 19th, Tompkins will accept PPP loan applications from our business banking customers who maintain a business deposit or loan account (excluding credit cards) with Tompkins which is active as of January 13th, 2021, due to government-mandated customer verification requirements. Applications will be accepted via our online application portal only. To make this process easier, we recommend familiarizing yourself with forms included below, as they contain the same information and questions we will require through our online application portal.

Through our portal, you will be providing the information requested on the following forms:

• First-Time PPP applicants (has not previously received a PPP loan from Tompkins or another financial institution) – refer to SBA Form 2483

• Second-Time (Second Draw) applicants (has previously received a PPP loan from Tompkins or another financial institution) – refer to SBA Form 2483-SD

These forms can be found on the SBA.gov website as well.

• Gather Your Documents

• For Borrowers Not Self-Employed: Form 941 and state quarterly wage unemployment insurance tax reporting forms from each quarter in 2019 or 2020 (whichever quarter is used to calculate payroll) or equivalent payroll processor records (unless the borrower is self-employed).

• For Partnerships: IRS Form 1065 K-1s.

• For Self-Employed Borrowers with Employees: Borrower’s 2019 or 2020 IRS Form 1040 Schedule C, Form 941, and state quarterly wage unemployment insurance tax reporting forms from each quarter of 2019 or 2020, or equivalent payroll processor records. A payroll statement or similar documentation from the pay period that covered February 15, 2020 must be provided to establish the applicant was in operation on February 15, 2020.

• For Self-Employed Borrowers without Employees: 2019 or 2020 Form 1040 Schedule C, 2019 or 2020 IRS Form 1099-MISC, document to establish borrower is self-employed (e.g., invoice, bank statement, book of record), and 2020 invoice, bank statement, or book of record to establish that borrower was in operation on or around February 15, 2020.

• For “Second Draw” Loan Requests > $150,000: Profit and Loss Statements (P&Ls) or Bank Statements showing 25% decline in any quarter (or annual) 2019 vs comparable quarter (or annual) 2020. (Note: For Second Draw Loans $150,000 or less, this documentation will be required at the time of your forgiveness application.)

We encourage you to work with your professional advisor to understand your particular situation. Tompkins is truly proud to have assisted thousands of customers with their PPP applications in 2020, and our teams are preparing to do all that we can to continue to support our local communities. We will continue to update you as we know more and we look forward to serving you, as always. Our Paycheck Protection Program page contains the most up to date information along with an informational webinar and frequently asked questions.

PPP Information Page

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